Sterlite Industries (India) Limited to Purchase Operating Assets of ASARCO LLC for $2.6 billion

Sterlite Industries (India) Limited (“Sterlite”), a subsidiary of Vedanta Resources plc, the London-based FTSE 100 metal and mining group, and ASARCO LLC (“Asarco”), a Tucson based mining, smelting and refining company, announced today that they have signed a definitive agreement for the sale to Sterlite of substantially all the operating assets of Asarco for $2.6 billion in cash. The agreement... 

Tag: world copper reserves

India’s L&T wins 28 mln eur order from China’s Zhongyuan Coal Chemical unit

India’s Larsen & Toubro Ltd (L&T) said it has won a 28 mln eur order from a unit of China-based Zhongyuan Coal Chemical Industry Group, for the supply of a coal gasifier and cooler assembly. In a regulatory filing, the country’s largest engineering and construction group said the order was won by its heavy engineering division from Zhongyuan unit Hebi Coal and Electricity Co Ltd. It... 

L&T to make world’s biggest coal gasifier plant

Construction major Larsen & Toubro Ltd. (L & T) has bagged a contract worth 28 million euros ($ 44.13 million or Rs.1.70 billion) from China, the world’s largest and heaviest coal gasifier plant. The Hebi Coal and Electricity Ltd., a subsidiary of Zhong Yuan Coal Chemical Industry Group’s mission. Information of the Bombay Stock Exchange (BSE), an official communiquã© published... 

Tag: companies that make gasifiers

Indian Oil, Deep Industries to jointly explore, market gas

India’s largest public sector oil company by sales, Indian Oil Corp Ltd (IOC), and Gujarat-based Deep Industries Ltd have signed a memorandum of understanding (MoU) to jointly develop two coal bed methane (CBM) blocks and three marginal gas fields, and then market the natural gas. Coal bed methane is a form of natural gas extracted from coal beds. In recent decades it has become an important... 

Tag: savla minning, traiding activity on nevada deep mining

India’s Essar to Buy Minnesota Steel to Add Iron Ore

Essar Global Ltd., the owner of India’s third-biggest steelmaker, agreed to buy Minnesota Steel Industries LLC for an undisclosed price to add 1.4 billion tons of iron-ore reserves and a steel mill in North America. Essar will invest about $1.65 billion to build the 2.5 million-ton-a-year mill in northern Minnesota, John Elmore, closely held Minnesota Steel’s chief executive officer, said... 

Tag: buying iron ore reserves, essar iron ore

Most Asian Markets Rally as Nikkei Hits 10-Month High and India, Australia Reach Records

Most Asian markets rose Friday, with Japanese stocks climbing to their highest in nearly 10 months and markets in India, Singapore and Australia all rose to records. Malaysian shares finished at a new 10-year high. Stocks rose in Tokyo amid optimism about growth prospects for the U.S. economy, a key export market. The benchmark Nikkei 225 index climbed 27.61 points, or 0.16 percent, to wrap up the... 

Cairn Energy’s Indian Subsidiary Debuts In Indian Stock Exchanges

Early Tuesday, Scotland-based Cairn Energy PLC revealed that shares of its Indian subsidiary, Cairn India Limited, have commenced trading in Bombay Stock Exchange Limited, or BSE and the National Stock Exchange of India Limited, or NSE. The company received the approval from both exchanges in this regard on January 5, 2007. Cairn India made its market debut at Rs.140 in BSE and Rs.152 in NSE. In December,... 

Compucom to set up wind power plant in Karnataka

Jaipur-based Compucom Software Ltd today said that it will set up a wind power plant in Karnataka at a cost of Rs 4 crore. The company informed the Bombay Stock Exchange that it has placed an order for setting up the plant, which is likely to be commissioned in the current financial year.  Read More →

India: Jindal Drilling considers scheme of amalgamation, arrangement

Jindal Drilling and Industries Ltd today said it has considered the scheme of amalgamation of Discovery Hydrocarbons Pvt Ltd and Newsco Newtech Pvt Ltd with itself. The board of directors at its meeting held today also took on record the scheme of arrangement (demerger) between Haryana Engineering Ltd (name changed to Haryana Capfin Ltd) and itself, the company informed the Bombay Stock Exchange. The... 

Tag: haryana capfin

Vadinar Oil acquires 67.22 pc stake in Essar Oil

Essar Oil Ltd on Saturday said one of its promoter group company has acquired 67.22 per cent of stake in the company through purchase of 47.61 lakh Global Depository Shares (GDS). The GDS represent 72.84 crore underlying equity shares, which were with the company’s depository, Bank of New York and now have been purchased by Vadinar Oil, Essar Oil informed the Bombay Stock Exchange. As part of...